[ BUSINESS BRIEFS ]

STAFF WRITER, WITH AGENCIES

TAIEX climbs 0.47 percent

The TAIEX closed up 0.47 percent yesterday to end the day above 8,900 points after the high-tech sector staged a rebound from recent losses resulting from the impact of the rising New Taiwan dollar, dealers said.

The TAIEX index rose 41.56 points to 8,907.91, after moving between 8,871.01 and 8,920.79, on turnover of NT$128.15 billion (US$4.38 billion).

The market opened up 0.19 percent after Wall Street hit a fresh two-year high overnight and interest in the bellwether electronics sector emerged, in particular in late trade, as investors picked up bargains by taking advantage of high-tech stocks’ low valuations, the dealers said.

A total of 2,049 stocks closed up, 2,074 finished down and 437 remained unchanged.

Taishin signs MOU with bank

Taishin International Bank (台新銀行) signed a memorandum of understanding (MOU) for cooperation with China’s Chengdu Rural Commercial Bank (成都農商銀行), Taishin Financial Holding Co (台新金控), parent of the Taipei-based lender, said in a statement to the Taiwan Stock Exchange yesterday.

Bank estimates NT$9bn profit

Taiwan Cooperative Bank (合作金庫銀行) estimated this year’s pretax profit to be about NT$9 billion (US$309 million), the Taipei-based lender said in a statement to the stock exchange yesterday, without giving a comparative figure.

Chunghwa Telecom signs MOU

Chunghwa Telecom Co (中華電信) signed an MOU with Inventec Co (英業達) to co-develop and promote cloud-computing services, the Taipei-based company said in an exchange statement yesterday.

Chunghwa Picture eyes China

Chunghwa Picture Tubes Ltd (中華映管) will set up a touch-panel manufacturing base in Fuzhou, China, with full production to commence by May next year, the Taoyuan-based company said in an e-mailed statement yesterday.

Formosa running near capacity

Formosa Petrochemical Corp (台塑石化), Taiwan’s only publicly traded oil refiner, said it is using 98 percent to 99 percent of capacity at its three ethylene plants.

“We’re running at almost full capacity,” Lin Keh-yen (林克彥), a company spokesman, said by telephone yesterday.

The refiner expects to process an average of 460,000 barrels of crude a day this month and next month, he said.

Separately, Taipei-based China Man-Made Fiber Corp (中國人造纖維) plans to spend about NT$3 billion building an ethylene glycol plant, the company said in a statement to the Taiwan Stock Exchange yesterday.

Sony, Chimei settle dispute

Sony Corp, the world’s third-largest television maker, and Chimei Innolux Corp (奇美電子) settled their legal dispute over patents on LCD TVs and monitors, US court records showed on Tuesday.

“All pending patent litigations between the parties” have been settled, the companies said in a Dec. 16 notice to the US International Trade Commission in Washington. Terms weren’t disclosed.

Sony had targeted LCD monitors produced by Chimei for computer makers including Dell Inc and Hewlett-Packard Co. Chimei, Taiwan’s largest flat-panel screen maker, sued to halt the sale of Sony products including Bravia televisions.

ProMOS wins one year in loans

ProMOS Technologies Inc (茂德科技), the nation’s No. 3 computer memorychip maker, said it has obtained approval from major credit banks to extend unspecified bank loans for another year, according to a company filing to the Taiwan Stock Exchange yesterday.